Question

I have a significant upcoming medical expense that is not completely covered by insurance. What is the best way to cover the remaining expense without damaging my credit...credit card (I'll need to open a new one), personal loan or 401k loan?

All Responses

All of those can potentially impact your credit. A 401k or personal loan will probably have a bit less of an impact than a carried balance on a credit card. The best way to handle it is with emergency funds but if you haven't built them up then it's too late at this point. However, you may want to plan ahead for the future.

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